UK and India Sign Landmark Trade Deal Slashing Tariffs, Boosting Bilateral Ties

British Prime Minister Keir Starmer described the deal as a ālandmark momentā during a joint appearance with Indian Prime Minister Narendra Modi at Chequers, the Prime Ministerās country residence. The agreement was formally signed by UK Trade Secretary Jonathan Reynolds an..
⨠Key Highlights
The United Kingdom and India have signed a landmark trade agreement, slashing tariffs on various goods and expanding market access for businesses in both countries. This deal, described as a "landmark moment" by Prime Minister Keir Starmer, seeks to boost bilateral trade and economic cooperation.
- Key Tariffs Reduced: Tariffs on British goods to India will fall from an average of 15% to 3%; whisky and gin tariffs from 150% to 75% (eventually 40% over 10 years); and automotive tariffs from over 100% to 10%. 99% of Indian exports to the UK will face zero import duty.
- Economic Impact: The agreement is expected to boost bilateral trade by £25.5 billion ($34.4 billion) and add £4.8 billion ($6.5 billion) annually to the UK economy.
- Key Figures: Signed by UK Trade Secretary Jonathan Reynolds and Indian counterpart Piyush Goyal, the deal was formalized after more than three years of negotiations, following an agreement in principle in May.
Continue Reading
Read the complete article from Capital News